IVA and back money

auldblerk

I'm just about to start an IVA but have some back money due in September of roughly £700. My question is will the IVA company cease it and gobble it up; do I have to submit my bank statements ? Advice on this would be appreciated.

althas

You will need to talk to your IP in charge of your IVA. It will all depend on the agreement

I believe a general rule is you can keep the first 10% of windfalls like this, then the remainder is split 50/50 between you and your creditors. But you IP will give you exact terms

Good Luck